By Business Wirevia The Motley Fool
Filed under: Investing
ConAgra Foods Reports Third Quarter Comparable EPS Growth Including Significant Increase in Marketing; Reaffirms Full-Year EPS; Announces Quarterly Dividend
OMAHA, Neb.–(BUSINESS WIRE)– ConAgra Foods, Inc., (NYS: CAG) :
Fiscal 2013 Third-quarter Highlights (% cited vs. year-ago period amounts, where applicable):
- Diluted EPS from continuing operations of $0.29 as reported and $0.55 adjusted for items impacting comparability, down as reported and up on a comparable basis.
- Consumer Foods’ operating profit increased on a comparable basis, including an approximate 33% increase in base business marketing investment. The increase in investment reduced the quarter’s EPS by approximately $0.04 per diluted share. Segment sales increased 7%, driven by acquisitions.
- Commercial Foods’ sales and comparable operating profit increased.
- The company completed the acquisition of Ralcorp on January 29, 2013. ConAgra Foods’ fiscal 2013 third-quarter results include 27 days of EPS contribution from Ralcorp. The company continues to expect EPS benefit of approximately $0.05 per diluted share in fiscal 2013 from this transaction.
- As previously stated, the company expects EPS for the full fiscal year, adjusted for items impacting comparability, to be approximately $2.15, resulting in 17% comparable year-over-year EPS growth. The $2.15 includes approximately $0.05 per diluted share benefit from the acquisition of Ralcorp.
- The board of directors approved a dividend of $0.25 per common share to be paid on May 31, 2013, to stockholders of record at the close of business on April 30, 2013.
ConAgra Foods, Inc., (NYS: CAG) one of North America‘s leading packaged …read more
Source: FULL ARTICLE at DailyFinance